case study 3 entrepreunership

﻿Running a sole proprietorship
CASE STUDY Ch. 3 Entrepreneurship1.Why is the sole proprietorship business form so popular with people who want to start a business? It is the simplest and least expensive business structure to establish, due to a sole proprietor need only register his or her name and secure local licenses, and the sole proprietor is ready for business. It is easy to change your legal structure later if circumstances change. The entrepreneurship has the complete control over all decisions. He needs not to consult with anyone else when he need to make decisions or want to make changes. It has easy tax preparation. His business is not taxed separately, so it’s easy to fulfill the tax reporting requirements for a sole proprietorship. The tax rates are also the lowest of the business structures. Employees. Sole proprietorships can hire employees. This can lead to many of the benefits associated with job creation, such as tax breaks. Ease of money handling. It easier to obtain handling money than in other legal business structures. And he does not need any payroll set-up to pay himself. The sole proprietor can own the business for as long as he or she decides, and can cash in and sell the business when they decide to get out. The sole proprietor can even pass the business down to their heir, a common practice. What are the advantages for Larry Nicola?

He has the freedom of choice to do things his own way. And if he sees something going wrong, he can correct it. So we can say that he has the complete control of his business. For example; he made the menu choices and saw that the food was cooked to perfection. Another advantage is that he was a chef, so he knows how he can kept on top of new industry trends and how to change the menu to reflect the emerging tastes of customers. 2.What type of liability do sole proprietors have if their business suffers a large loss? The disadvantage of being a sole proprietorship is that he has an unlimited...

You May Also Find These Documents Helpful

...﻿CaseStudy Template
Organization_HEIDRICK AND STRUGGLES INTERNATIONAL INC
TAKEILA SADDLER
GM520
FEB 25, 2014
 a brief analysis of the situation and pending decision problem, as presented in the case, and as relevant to your answer. This should be exceptionally brief and you should assume the person reading the assignment is familiar with the details of the case.
Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy. The key components of strategic planning include an understanding of a vision, mission, values and strategies. Strategic planning is a step by step process with definite objectives and end products that can be implemented and evaluated. Very simply, it is a process by which we look into the future and influence the forces that will affect us. Strategic planning looks three to five years ahead. It charts a definite course based on strong indicators of what the business environment will be like in those years. Heidrick and Struggles international Inc had a plan to set in place to get the right people for the right job to help with the success.
Kelvin Kelly became the CEO in 2006taking over a firm that despite its strong brand and positive performance in absolute terms. Had lost market leadership. The organization had fallen from number one to number three. His job was to gain that leadership...

...Case Brief: Kerl v. Rasmussen (2004) 273 Wis. 2d 106, 682 N.W. 2d 328
The facts in this case are that Harvey Pierce ambushed and shot Robin Kerl and her fiancé David Jones in the parking lot of a Madison Wal-Mart where Kerl and Jones worked. Kerl was seriously injured in the shooting, and Jones was killed. Pierce, who was Kerl’s former boyfriend, then shot and killed himself. At the time of the shooting, Pierce was a work-release inmate at the Dane County jail who was employed at a nearby Arby’s restaurant operated by Dennis Rasmussen, INC. Pierce had left work without permission at the time of the attempted murder and murder/suicide. Kerl and Jones’ estate sued DRI and Arby’s, INC. As in pertinent to this appeal, the plaintiffs alleged that Arby’s is vicariously liable, as DRI’s negligent supervision of Pierce. The circuit court granted summary judgment in favor of Arby’s, concluding that there was no basis for vicarious liability. The court appeals affirmed.
The issue is whether and under what circumstances a franchisor may be vicariously liable for the negligence of its franchisee. The rule is that a franchisor may be held vicariously liable for the tortious conduct of its franchisee only if the franchisor has control or a right of control over the daily operation of the specific aspect of the franchisee’s business that is alleged to have caused the harm. These courts have adapted the traditional master/servant “control or right to...

...Introduction
In this case we get an entire scenario about how the Japan deflation set in, what were the effects of the deflation on the economy as well as on the people of Japan. It also mentions about the various reasons because of which Japan was in such a tight grip of Deflation, Depression, Demographics and Debts Guides us through the steps taken by the government in order to curb this deflation. Imparts a great knowledge to us about the various economic terms like deflation, self-liquidating credit, Non-Self Liquidating Credit and how the people and economy of a country is affected by these.
Free markets economies are subject to cycles. Economic cycles consist of fluctuating periods of economic expansion and contraction as measured by a nation's gross domestic product (GDP). The length of economic cycles (periods of expansion vs. contraction) can vary greatly. The traditional measure of an economic recession is two or more consecutive quarters of falling gross domestic product. There are also economic depressions, which are extended periods of economic contraction such as the Great Depression of the 1930s.
From 1991 through 2001, Japan experienced a period of economic stagnation and price deflation known as "Japan's Lost Decade." While the Japanese economy outgrew this period, it did so at a pace that was much slower than other industrialized nations. During this period, the Japanese economy suffered from both a credit crunch and a liquidity trap....

...
CASESTUDY NO.1
Mary Roberts had been with the company three years when she was promoted to manager of the tax department which was part of the controller’s division.Within four months she became a supervisor of ten staff accountants to fill a vacancy.Her superior believed her to be most qualified individual to fill the position.
Many senior employees resent her that she so young to fill the position and what made them more upsets was the fact tax managers did not discuss the promotion.
QUESTION:
1.What can Mary Roberts do about the resentful senior employees?
Mary should tackle this head on she should be direct and assertive about her expectation and when people are crossing the line that means she need to be clear with people when their behavior doesn’t meet her standards and she need to be willing To set and enforce consequence if it doesn’t change
2. Can higher management do anything to help Roberts make the transitions to greater responsibility?
Yes, because they are the one who put her in that position of course they will help Mary interms of guiding it `.
3. Will her lack of technical knowledge hinder Mary’s managerial effectiveness?
No , because lacking on some aspects on technical knowledge cant bankrupt or destroy a company as long she have a guts to face and accepts failures
4. Should Mary’s superior have discussed the promotion with the senior employees before announcing it?
No ,because its not...

...February of 1999. In the past four months, the NC design had developed
sustainability. The Bostrom alliance agreement for the truck market had been concluded. The
question about Elio's strategy for the entry into automobile still remained. Should Elio's joint
venture with Bostrom? Should it partner with a tier-one or a tier-two automotive supplier?
Was Elio's technology strategy aligned with the requirements for a successful entry into the
automotive market? Paul and Hari realized that they needed answers to these questions in
the coming days.
This casestudy discusses the start-up, origins and strategic options facing an innovative set up
and start up in automotive market and in the seat design. With the domination of the
incumbent large suppliers serving the top 3 leading tier-one automakers of U.S.,
Elio
Engineering faces several challenges as it seeks to introduce its new seating technology to the
market. The case can serve as vehicle to discuss important themes such as technology and
business strategy, invention and innovation, bringing technology to market and profiting from
innovation.
Elio's should make a joint venture with Bostrom. Elio's has made a seat design naming "No
Compromise" with progress on cost, weight and performance compared to the conventional
design and also the existing all-belt-to-seat (ABTS). After many functional prototypes and
computer aided structural analysis, a...

...﻿
Chapter 1 Case
The McGee Cake Company
Q1: What are the advantages and disadvantages of changing the company organization from a sole proprietorship to an LLC?
Since the company’s inception, the McGee’s have operated The McGee Cake Company as a sole proprietorship which has provided them with several key advantages. The first among these advantages is the relative ease with which the McGee’s likely experienced in starting their business where essentially they were only required to secure the necessary licenses, tax identification numbers, and certifications to begin conducting business. In contrast, the requirements to start a LLC are quite a bit more extensive. Although less extensive than other corporate entities, establishing and maintaining an LLC requires that the owner form and register the LLC entity with the appropriate state agency. Next, the owner must draft and file articles of organization with secretary of state’s office along with paying a substantial filing fee that can be on the upwards of several hundred dollars. This LLC filing will have to include the LLC’s name, principal office’s location, the owner’s name or names, the expected term of the LLC, and any other state mandated information. Additionally, since the McGee’s would operate as co-owners of the company, they would be required to draft an operating agreement which details the each of their duties, capital contributions, and rights to profits.
Another key...

...﻿Brian Hamilton
CaseStudy - Chapter 7
Apple, Google, and Microsoft Battle for your Internet Experience
Apple, Google, and Microsoft all battle to be people’s number one destination for Internet needs with mobile devices. Each of these companies want to control your Internet experience to the point that if they win the battle, their prize is a $400 billion e-commerce marketplace by 2015. Each company has its dominant strengths right now. Microsoft is still the dominant force for operating systems on PC’s because it has Windows on approximately 95% of PCs. Google is dominant as far as Internet searching needs goes, and Apple’s success has come mainly from the iPhone and iPad devices. Apple has also had great success with its ‘App store’ which gives Apple a head start in your Internet and mobile device needs. Any one of these companies can win the battle for your Internet experience with mobile devices, and no one truly knows who will win because it is unprecedented that three companies are competing to become number one.
1. Compare the business models and areas of strength of Apple, Google, and Microsoft.
In the battle for dominance of the Internet, Google has a huge advantage in terms of advertising as a result of its prominent search engine. Google’s Android operating system is used on 60 percent of smart-phones worldwide. Google’s acquisition of Motorola Mobility Holdings enables the company to protect against patent suits and manufacture...

...﻿Casestudy: Vinsun Infra Engineering:ERP on Premise or on Cloud
by Wei Jia
Company Background
Vinsun Infra Engineering Pvt. Ltd is one of India’s leading service provider companies engaged in providing products and services in electrification and civil engineering projects. Sunil Satav is the founder and the managing director of Vinsunwho was born in Madhya Pradesh in India. He was interested in becoming an entrepreneur since childhood, then pursued a degree in electrical engineering. In order to save money he worked part time in a storage plant, then built up Vinsun as a small start up enterprise, then grew into a small and medium sized SMS enterprise with 60 employees. Because of his model work, The National Education and Human Resource Development Organization give him the Rashtriya Udyog Ratna Award.
Issues
When did for a civil electrification project, Satav found that data relate to input cost was not readily available and some of the costs included in calculations were outdated by a full year. Because Vinsun was using the traditional methods of processing the information for its daily activities, this led to information overload and made information management difficult. This issues became more and more visible as Vinsun is expanding in size business as well as in employees. A lack of data integrity, redundancy and incompleteness led to unprofitability and inconsistency of the decision making. There are the mentioned challenges which has...